06 Nov Discover Facebook Ads Purchase Audience
Arguably the biggest factor in the success of your Facebook ads producing big returns or being a flop is the targeting. Let’s cut straight to it,
What to do if you’re brand new,
Interest-based targeting –
Facebook has a pretty good list of interests that will more than likely fit who you’re trying to find. It’s not the best option normally but if you haven’t built your pixel data or don’t have an email list then it’s your only option. Start by split testing different Interests groups.
Tip: Facebook is favoring bigger broader audiences so combine 4-5 interests or more into one adset.
Tip: For cold (new) audiences run conversion campaigns that will bring in higher quality traffic because in the beginning you are just building your pixel data so your future lookalike audiences will be good. If you use reach of traffic objectives you run the risk of filling up your pixel with non-purchasing people thus making your future lookalike audience weak. If a conversion event like purchase or add to cart isn’t producing enough results then switch to a view content conversion event.
If you already have traffic and sales,
Time to create lookalike audiences –
- LTV (Life Time Value)
- Email lists (Non-LTV)
- Purchase custom pixel event
- Add to cart custom pixel event
- Time spent on website custom pixel event
A large majority of the time a 1% lookalike audience based on purchasers will be the best audience. Facebook does a good job of finding similar audiences to those who have already purchased from you.
However, it’s always a good idea to test all of these different sources to see if you can beat it. Every account is different we work on so we test them all and at different percentages.
How to scale,
When you’ve found your purchase audience it’s time to scale. Scale vertically first, meaning take a winning adset and push 10-12% into it every day until it breaks. Generally, this is your breaking point for the account for now. Back the adspend down to the safe zone. Then scale horizontally, meaning duplicate the adset with the same spend and audience. If your audience is bigger than 1 million you won’t have to worry about overlap, if it’s below 1 million change a small variable like the age range.
Run this audience and winning ad until fatigued then push new ads into it. When you do this properly it will build a strong pixel and your lookalike audiences will be excellent.
If no lookalike or interests are working, layer interests on top of lookalike in different combinations until a winning combination is found.
If you feel like you’ve exhausted all relevant interests than dig deeper into your ideal customer, look at what books, movies, destinations, influencers, etc. they like.
Always check the link click-through rate as an indicator of how well your ad is performing with your audience. If it’s below 1% then consider changing the ad, but only if your ROAS (Return on Adspend) is lower than you want it to be.
This blog is intended to help anyone running their own Facebook ads and is a general overview, if you get stuck give us a call.